With the adoption of the Federal Act on Tax Reform and AHV Financing (TRAF, cf. blog article) the Swiss voters approved the basis for a cantonal implementation of the tax reform. Based on this, on 19 May 2019 the Parliament of the Canton of Zug enacted the Tax Reform 2020. The Canton of Zug will once again be in a position to offer the most competitive tax rates.
The new corporate tax law will enter into force on 1 January 2020 and will look as follows in the Canton of Zug:
As it is a comprehensive revision of the tax law, companies in the Canton of Zug should prepare for the changes mentioned above as soon as possible. Specifically, the following questions should be addressed:
Companies should take timely action in order to be ready for the impact the tax reform will have on them. This includes thorough planning in time as well as a simulation of the impacts of the different aspects of the tax reform.